Belpointe PREP approved a June 30 net asset value of $455,013,467, equivalent to $116.37 per Class A unit. The figure gives investors an asset-based valuation reference, but the company says NAV may not be fully realized through asset sales or match the trading price of its units.

Key Highlights

  • Belpointe PREP’s real-property investments were valued at $727,299,889.
  • Total liabilities stood at $306,512,164, including Debt and other borrowings of $282,311,738.
  • The valuation covered 3,909,902 Class A units outstanding.

Belpointe PREP, LLC (AMEX: OZ) set its June 30, 2026 net asset value at $455,013,467, equal to $116.37 per Class A unit. The quarterly valuation reflects the value assigned to its Assets and investments after liabilities and specified allocations.

$455 Million NAV Backed by Real Estate

Real-property investments represented $727,299,889 of Belpointe PREP’s assets, while cash and cash equivalents totaled $15,636,979 and other assets added $18,588,763. Those components produced total assets of $761,525,631. Debt and other borrowings were $282,311,738, and other liabilities were $24,200,426, bringing total liabilities to $306,512,164.

The resulting NAV was $455,013,467 across 3,909,902 Class A units, producing the stated $116.37 value per unit.

The calculation incorporates the value of the portfolio and other assets, including cash remaining after any distributions to Belpointe PREP Manager, LLC under its Class B units. It also accounts for liabilities such as construction loans, management fees, gains or distributions allocated to the manager, and expenses reimbursable to the manager and its affiliates, including Belpointe, LLC, the sponsor. Belpointe PREP uses a process intended to estimate the price available in an arm’s-length transaction between an informed buyer and seller.

Belpointe PREP Manager, LLC periodically reviews the valuation policies and can adjust them. The company states that NAV may not be fully realized when assets are sold, and Class A units may not trade at $116.37 on NYSE American.

Source(s)

  • https://www.sec.gov/Archives/edgar/data/1807046/000149315226040486/form8-k.htm